Myanmar

INTRODUCTION:

Formerly known as Burma, Myanmar is a formerly closed economy that is now opening up to the globalized world and is in a political transition to a more democratic system. The government intends to diversify away from its former dependency on its large northern neighbors, and is thus eager to court as much international investment as possible.

The country’s rather sizeable population of over 50 million people provides a lot of cheap labor potential, as the minimum wage is less than US$ 100 for a six-day work week, the second-lowest in the world. Moreover, the country straddles India and China, and can serve as a unique bridge between these two giants as well as ASEAN. Like most of the GMS countries, Myanmar’s growth story centers on its natural resource potential with huge reserves of gas and other minerals.

The country is also partnering up with Thailand and other East Asian states in building special economic zones such as the Dawei integrated zone, one of the largest mega projects in the world. Eastern Century is well-poised to advise clients on Myanmar-related transactions, particularly in the alternative energy space where we have a track record.